Columbia Sportswear (NASDAQ:COLM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Columbia Sportswear (NASDAQ:COLM) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Citigroup reaffirmed a “neutral” rating and issued a $68.00 price target (up from $67.00) on shares of Columbia Sportswear in a research note on Wednesday, July 22nd. Robert W. Baird set a $65.00 price objective on Columbia Sportswear in a research note on Friday, July 31st. Stifel Nicolaus set a $67.00 price objective on Columbia Sportswear and gave the company a “buy” rating in a research note on Friday, July 31st. UBS Group restated a “sell” rating and issued a $49.00 target price (up from $47.00) on shares of Columbia Sportswear in a report on Friday, October 30th. Finally, Zacks Research downgraded shares of Columbia Sportswear from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Columbia Sportswear currently has an average rating of “Hold” and a consensus target price of $66.40.

Columbia Sportswear Trading Up 2.9%

COLM opened at $72.45 on Friday. The stock has a market capitalization of $3.71 billion, a P/E ratio of 19.54 and a beta of 0.88. The stock has a 50-day moving average price of $59.88 and a 200-day moving average price of $60.24. Columbia Sportswear has a 12-month low of $49.56 and a 12-month high of $73.03.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Thursday, October 29th. The textile maker reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.38. The company had revenue of $962.58 million for the quarter, compared to analysts’ expectations of $944.91 million. Columbia Sportswear had a return on equity of 11.71% and a net margin of 6.97%. Columbia Sportswear’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. On average, equities research analysts predict that Columbia Sportswear will post 3.91 EPS for the current year.

Columbia Sportswear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Columbia Sportswear’s dividend payout ratio is 26.32%.

Insider Transactions at Columbia Sportswear

In other news, insider Joseph Boyle sold 19,129 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $70.47, for a total value of $1,348,020.63. Following the completion of the transaction, the insider owned 2,776,714 shares in the company, valued at $195,675,035.58. This trade represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Peter Bragdon sold 375 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $70.81, for a total value of $26,553.75. Following the completion of the transaction, the president owned 28,950 shares of the company’s stock, valued at approximately $2,049,949.50. The trade was a 1.28% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 26,361 shares of company stock valued at $1,844,073. Corporate insiders own 51.90% of the company’s stock.

Hedge Funds Weigh In On Columbia Sportswear

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Columbia Sportswear in the 2nd quarter worth about $152,164,000. Dimensional Fund Advisors LP lifted its position in Columbia Sportswear by 15.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,222,770 shares of the textile maker’s stock valued at $121,824,000 after acquiring an additional 301,277 shares during the period. Bank of New York Mellon Corp purchased a new position in Columbia Sportswear during the 2nd quarter valued at about $16,691,000. Quantinno Capital Management LP lifted its position in Columbia Sportswear by 7.6% during the 1st quarter. Quantinno Capital Management LP now owns 292,953 shares of the textile maker’s stock valued at $16,057,000 after acquiring an additional 20,797 shares during the period. Finally, Bank of America Corp DE bought a new stake in Columbia Sportswear during the second quarter worth about $15,746,000. Hedge funds and other institutional investors own 47.76% of the company’s stock.

About Columbia Sportswear

Columbia Sportswear Company designs, sources, markets and distributes outdoor and active-lifestyle apparel, footwear, accessories and equipment. Its products serve activities such as hiking, skiing, fishing and other outdoor pursuits, as well as everyday wear.

The company’s portfolio includes the Columbia, SOREL, Mountain Hardwear and prAna brands. Its offerings range from jackets, shirts and pants to boots, shoes, backpacks and other outdoor accessories.

Founded in 1938 as a hat distributor in Portland, Oregon, Columbia Sportswear has grown into a global business.